Southern Asia: Millet Market 2024

Millet Market Size in Southern Asia

After two years of growth, the South Asian millet market decreased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The level of consumption peaked at $X in 2021, and then fell modestly in the following year.

Millet Production in Southern Asia

In value terms, millet production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The country with the largest volume of millet production was India (X tons), comprising approx. X% of total volume. It was followed by Nepal (X tons), with a X% share of total production.

From 2012 to 2022, the average annual rate of growth in terms of volume in India totaled X%. In the other countries, the average annual rates were as follows: Nepal (X% per year) and Pakistan (X% per year).

In 2022, the average millet yield in Southern Asia totaled X tons per ha, approximately mirroring the previous year's figure. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of X%. The level of yield peaked at X tons per ha in 2020; however, from 2021 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of millet in Southern Asia fell to X ha, waning by X% on 2021 figures. Over the period under review, the harvested area saw a mild decrease. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Millet Exports

Exports in Southern Asia

In 2022, overseas shipments of millet increased by X% to X tons, rising for the fifth year in a row after two years of decline. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, millet exports skyrocketed to $X in 2022. Total exports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

India prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2022. Pakistan (X tons) followed a long way behind the leaders.

India experienced a relatively flat trend pattern with regard to volume of exports of millet. At the same time, Pakistan (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of X% from 2012-2022. While the share of Pakistan (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of India (X p.p.) displayed negative dynamics.

In value terms, India ($X) remains the largest millet supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was held by Pakistan ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled X%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while Pakistan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%).

Millet Imports

Imports in Southern Asia

Millet imports dropped slightly to X tons in 2022, standing approx. at the previous year's figure. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by X%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, millet imports shrank to $X in 2022. Overall, imports, however, continue to indicate noticeable growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Nepal (X tons) was the key importer of millet, achieving X% of total imports. It was distantly followed by Pakistan (X tons) and Afghanistan (X tons), together mixing up a X% share of total imports. Bangladesh (X tons) took a little share of total imports.

Nepal experienced a relatively flat trend pattern with regard to volume of imports of millet. At the same time, Afghanistan (X%), Bangladesh (X%) and Pakistan (X%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Afghanistan and Bangladesh increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nepal ($X) constitutes the largest market for imported millet in Southern Asia, comprising X% of total imports. The second position in the ranking was taken by Afghanistan ($X), with a X% share of total imports. It was followed by Pakistan, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nepal amounted to X%. In the other countries, the average annual rates were as follows: Afghanistan (X% per year) and Pakistan (X% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, reducing by X% against the previous year. Import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, millet import price decreased by X% against 2017 indices. The pace of growth appeared the most rapid in 2017 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Bangladesh ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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